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Public company info - Jia Yao Holdings Limited , 01626.HK
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Jia Yao Holdings Limited, 01626.HK - Company Profile
Chairman Yang Yoong An
Share Issued (share) 300,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Printing, Publishing & Packaging
Corporate Profile Business Summary: The Group is principally engaged in the design, printing and sales of paper cigarette packages and to a lesser extent, social product paper packages in the PRC.. Performance for the year: For the year ended 31 December 2019, the revenue of the Group was approximately RMB581.3 million, representing an increase of approximately 2.5% over the same period in 2018 . The Group’s gross profit increased by approximately 2.9% from approximately RMB122.5 million for the year ended 31 December 2018 to approximately RMB126.0 million for the year ended 31 December 2019. The Group’s gross profit margin increased by approximately 0.1% from approximately 21.6% to approximately 21.7% as compared with the same period in 2018. The Group’s profit attributable to owners of the Company decreased by approximately 67.5% from approximately RMB13.0 million for the year ended 31 December 2018 to approximately RMB4.2 million for the year ended 31 December 2019. Business Review： The Group is principally engaged in the design, printing and distribution of paper cigarette packages in China and to a lesser extent, social product paper packages in China. Hubei Golden Three Gorges Printing Industry Co., Ltd.* (湖北金三峽印務有限公司) (“Hubei Golden Three Gorges”), the Group’s primary subsidiary, has been established in China for over 20 years. The Group provides paper cigarette packaging services for key cigarette brands designated by the State Tobacco Monopoly Administration of China (“STMA”). The Group has also diversified its business to social product paper packages such as medicine, wine, food and other consumer goods by leveraging its extensive experience and know-how in the cigarette packaging industry. Sales and Distribution Regarding the paper cigarette packaging segment, the Group believes that its solid and stable business relationship with customers is vital for excelling within the cigarette packages industry. As of 31 December 2019, the Group’s clients included major provincial tobacco industrial companies and non-provincial tobacco companies under China Tobacco Industry Development Center* (中國煙草實業發展中心), their operations span across China with production centers located in Hubei, Sichuan, Yunnan, and other provinces. Product Development and Design The Group will continue to invest in machinery and equipment to upgrade its production plants and ensure the productivity is up to international standards. The management strives to pursue cutting-edge technology in order to reduce production costs while maintaining or even improving product quality. The Group attaches high importance to product design and technology development, striving to enhance its technological competitiveness by leveraging its design and development capabilities, and continuing to commit resources to the upgrading of product research and development capabilities. During the period under review, the Group carried out regulated operation in strict compliance with the ISO9000 quality system standards. Equipped with state-of-the-art and comprehensive inspection equipment and devices, the Group has formulated a complete institutional system that covers every single process for its products in terms of the flow, standards, record and appraisal for the quality management of imported materials, processes as well as inspection of finished products and product delivery, which in turn assures the continuous enhancement of product quality. Technology Development and Quality Control Regarding quality control, the Group pursues perfection, professionalization and standardization by paying close attention to managing and controlling product quality. During the year under review, the Group was engaged in regulated operations in strict compliance with ISO9000 quality system standards. Equipped with state-of-the-art and comprehensive inspection equipment and devices, the Group has formulated a complete institutional system that covers the whole process of production, ensuring continuous enhancement of product quality. In addition, the Group’s product quality and safety control laboratory was accredited by China National Accreditation Service for Conformity Assessment in 2018. Meanwhile, the Group has also refined its quality and surveying management system and obtained accreditation for its G7 printing technology. The Group is resolved to enhance its product quality in response to the demand of customers. Cost Control Facing the rising prices of paper packaging raw materials, the Group has adopted effective measures to minimize the impact of fluctuations in their prices. In particular, the Group has negotiated with the top-ranking suppliers each year on the volume of supplies and guaranteed swift payment in exchange for a fixed price for paper materials. Meanwhile, the Group has also conducted internal evaluation to improve production procedures and materials usage, in hopes of raising production efficiency and shortening product cycle. Ultimately, these measures have allowed the Group to control the production cost per unit. Prospects: Although China and the United States have signed off phase-one of trade deal in early 2020, the global and China economies are expected to remain challenging in near term given intensifying social unrest in several countries, weatherrelated disasters, and the spread of the coronavirus pandemic (COVID-19) in the first quarter of 2020 have posted new challenges to recovery. Meanwhile, the China tobacco industry continues deepen structural reform, by establishing green supply chains which enforce a higher environmental standard, enhancing brand promotions, and adjusting product structures to propel middle to high-end cigarette consumption. The impact of the COVID-19 outbreak has impeded business activities globally and in China, and has brought about additional uncertainties in the Group’s operating environment. As far as the Group’s businesses are concerned, the outbreak has so far caused operational delays. While the situation remains fluid at this stage, the pandemic is likely to unleash wide-ranging havocs to China and the world. In view of this, the Group has already carried out a careful assessment of the overall impact of the pandemic on its operations and has taken all possible contingency measures to contain such impact. On a positive note, Chinese government has announced the lockdown lift in Hubei province starting early April and the Group’s business is expected to resume in full. The Group expects that the pandemic is unlikely to wane for some time and makes it difficult to predict the impacts of the outbreak for the time being. To mitigate the potential financial hits of this challenging situation, the Group has also taken a number of cost control initiatives and it will closely monitor the development so as to make corresponding adjustments in business strategies. Fully aware of the volatility in the outlook, the Group will be extra vigilant and will devote tremendous efforts in product development and shift its product mix towards middle to high-end cigarette packages, turning them into a major source of revenue and to protect profitability. The Group will continue to exert its competitive edge in design, printing and sales and consolidate its leading position in the tobacco industry. The Group will also keep a close eye on the rapidly changing market conditions, and proactively cope with the changes in and updates of Chinese government’s policies and regulations on tobacco control, and will strive to achieve structural upgrading of the management model through enhancing efficiency and product quality management. The Group will continue to explore the possibility of cooperating with potential brands and strive to develop new products in order to attract young consumers so as to maintain the Group’s leading role within the industry. In addition, the Group will continually devise effective business strategies, and explore more opportunities from different areas includes but not limited to the cigarette industry as well as international trading services. The Group is confident that, with the management and entire staff working closely together, Jia Yao will maintain its market leadership and create long-term value for shareholders.

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